Duplex with Separate
New
For Sale
$399,900
4 Mayfair Terrace, Wichita Falls, TX 76308
Two residences offer private garages, covered patios, storage, and additional covered parking.
Property Size3,350 SF
Price / SF$119.37
Days on Market4
Property Features for 4 Mayfair Terrace
General Information
Standard status
Active
Size
3,350 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Amenities
covered patio
storage building
Building Details
Buildings
1
Listing Agency:
HIRSCHI REALTORS
(940) 224-2626
Listed By:
Jody Brannon · License #468
Source:
Sandraworthamteam
Added: Aug 28
Changed: Aug 29
Last Checked: Aug 29 at 10:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of HIRSCHI REALTORS
Investment Insights
Based on property information with market context.
This duplex includes two separately metered residences with practical layouts and dedicated garage parking. Unit A has 2 bedrooms, 2 baths, a 1-car garage, covered patio, and storage building. Unit B provides 3 bedrooms, 2 baths, a 1-car garage, covered patio, storage building, and sprinkler system.
A shared 3-car carport expands the property’s covered parking capacity. Both residences are currently owner occupied, and the property is located at 4 Mayfair Terrace in Wichita Falls, TX 76308. The separate utility meters support independent household operations, while the mix of bedroom counts gives each unit a distinct configuration.
A shared 3-car carport expands the property’s covered parking capacity. Both residences are currently owner occupied, and the property is located at 4 Mayfair Terrace in Wichita Falls, TX 76308. The separate utility meters support independent household operations, while the mix of bedroom counts gives each unit a distinct configuration.
Key Highlights
- Two separately metered residences
- Unit A: 2 bedrooms, 2 baths, 1‑car garage, covered patio, and storage building
- Unit B: 3 bedrooms, 2 baths, 1‑car garage, covered patio, storage building, and sprinkler system
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,258
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,160
$605.2K
Cap Rate 7%
$432,257
$432.3K
Cap Rate 9%
$336,200
$336.2K
Market Conditions
NOI Build-Up for 3,350 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.2K $13.80/SF
− Vacancy
−$3.0K −$0.90/SF
EGI
$43.2K $12.90/SF
− OpEx
−$13.0K −$3.87/SF
NOI
$30.3K $9.03/SF
Area
Wichita Falls, TX
Vacancy
6.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$605,160
Cap Rate 7%
$432,257
Cap Rate 9%
$336,200
Alternative Uses
Best Use
Multifamily LT 5
$432.3K
$378.2K – $504.3K
NOI $30,258 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.6K
NOI $28,117 @ 7.0% cap · market cap 7.03%
Theoretical Best
Warehouse
$4.00M
$3.50M – $4.66M
NOI $279,861 @ 7.0% cap · market cap 69.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 76308, TX
20,305
Population
9,601
Households
2.1
Avg Household Size
35
Median Age
35%
College-Educated
96%
High-School Grad
7.8 sq mi
ZIP Area
2,603
Density / Sq Mi
$70,789
Median Household Income
$40,433
Median Earnings
$1,083
Median Rent
$198,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer private garages, covered patios, storage, and additional covered parking.
Where is this duplex located?
The property is located at 4 Mayfair Terrace Wichita Falls, TX.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two separately metered residences; Unit A: 2 bedrooms, 2 baths, 1‑car garage, covered patio, and storage building; Unit B: 3 bedrooms, 2 baths, 1‑car garage, covered patio, storage building, and sprinkler system
